Y Intercept Hong Kong Ltd Sells 1,441 Shares of Everest Group, Ltd. (NYSE:EG)

Key Points

• Y Intercept Hong Kong Ltd reduced its holdings in Everest Group, Ltd. by 44.4%, bringing its shares down to 1,801 and valuing them at $654,000 as of the last quarter.
• Everest Group reported $6.45 EPS for the last quarter, missing the consensus estimate of $7.46, despite a revenue increase to $4.26 billion.
• Everest Group has declared a quarterly dividend of $2.00 per share, resulting in an annualized dividend yield of 2.38% with a payout ratio of 41.15%.

Y Intercept Hong Kong Ltd cut its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 44.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,801 shares of the company's stock after selling 1,441 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Everest Group were worth $654,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Everest Group in the 4th quarter valued at $488,588,000. Franklin Resources Inc. boosted its holdings in shares of Everest Group by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock worth $464,533,000 after buying an additional 4,544 shares during the period. Geode Capital Management LLC increased its position in shares of Everest Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock worth $424,344,000 after acquiring an additional 8,321 shares in the last quarter. Vulcan Value Partners LLC raised its holdings in shares of Everest Group by 279.1% during the fourth quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after acquiring an additional 720,572 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Everest Group by 17.2% in the 4th quarter. Invesco Ltd. now owns 855,120 shares of the company's stock valued at $309,947,000 after acquiring an additional 125,271 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Everest Group

In other news, CEO James Allan Williamson purchased 1,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were bought at an average price of $337.97 per share, with a total value of $337,970.00. Following the completion of the transaction, the chief executive officer directly owned 25,618 shares in the company, valued at $8,658,115.46. This trade represents a 4.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Everest Group Stock Down 1.7%

EG stock traded down $5.76 during trading hours on Monday, hitting $331.10. The company's stock had a trading volume of 198,377 shares, compared to its average volume of 410,090. The stock has a 50 day moving average price of $338.73 and a two-hundred day moving average price of $346.56. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The company has a market capitalization of $14.08 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 0.26 and a beta of 0.51. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25.

Everest Group (NYSE:EG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $6.45 EPS for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period in the previous year, the company earned $16.32 earnings per share. The company's quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were issued a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $8.00 annualized dividend and a yield of 2.42%. Everest Group's dividend payout ratio (DPR) is currently 41.15%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. UBS Group cut their target price on shares of Everest Group from $372.00 to $370.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Janney Montgomery Scott started coverage on Everest Group in a research report on Friday, June 20th. They set a "buy" rating and a $425.00 price target on the stock. Evercore ISI decreased their price objective on Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods upped their target price on Everest Group from $402.00 to $405.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley increased their price target on shares of Everest Group from $330.00 to $350.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $400.83.

About Everest Group

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.